Gaming and Leisure Properties Inc (NAS:GLPI)
$ 45 0.1 (0.22%) Market Cap: 12.22 Bil Enterprise Value: 18.52 Bil PE Ratio: 16.61 PB Ratio: 2.96 GF Score: 77/100
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Gaming and Leisure Properties Inc at NAREIT REITWeek (Virtual) Transcript

Jun 03, 2020 / 07:25PM GMT
Release Date Price: $38.24 (+6.97%)
Steven T. Snyder
Gaming and Leisure Properties, Inc. - Senior VP & CFO

Okay. We're all set. Go ahead, Felicia.

Felicia Rae Kantor Hendrix
Barclays Bank PLC, Research Division - MD & Senior Equity Research Analyst

Well, thank you, Steve, and good afternoon. My name is Felicia Hendrix. I'm the gaming, lodging and leisure analyst at Barclays. And I'm very pleased to host a discussion with the management team of GLPI, Gaming and Leisure Properties, over the next 30 minutes.

It's a pleasure for me to introduce to you Mr. Peter Carlino, Chairman and CEO; Mr. Steve Snyder, CFO; and Mr. Matthew Demchyk, SVP of Investments.

As you know, GLPI is a triple net lease REIT and is one of 3 gaming REITs with a market cap of about $7.6 billion. We have an overweight rating on GLPI and had a 2021 enterprise value to EBITDA multiple of 13.4x versus 15.3 for the triple net. GLPI is significantly undervalued in our view. We do note that the company is collecting about 99% of its rental income and is currently engaged in the efforts to complete a rent

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